Individual Whole Life
A Whole Life policy pays a Death Benefit when the insured person dies. A Cash Value will be paid if the policy is surrendered prior to death. Participating Whole Life policies pay dividends based on the insurance company’s results for similar policies in the participating fund.
If your life insurance company fails, your Whole Life policy will be transferred to a solvent company.
- On transfer, Assuris guarantees that you will retain up to $200,000 or 85% of the promised Death Benefit, whichever is higher.
- On transfer, Assuris guarantees that you will retain up to $60,000 or 85% of the Cash Value, whichever is higher.
Examples click here
- On transfer, dividends will continue to be paid. However, the level of dividends may be adjusted.
Whole Life policies may also have associated deposit type accounts. These may be used to hold pre-paid premiums or accumulated cash dividends. These deposit type accounts receive Assuris' Accumulated Value Protection
Whole Life insurance may have other benefits and riders added to the policy. For information on how other benefits and riders are protected click here
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